Ex-NSSF Boss Slapped With 14 Year Jail Term

Former National Social Security Fund (NSSF) Investment manager Francis Zuriels Moturi has been sentenced to 14 years in prison over Sh1.6 billion corruption at the institution.

While delivering his ruling, Chief Magistrate Lawrence Mugambi further directed him to pay an alternative fine of Sh2.6 billion.

Mugambi delivered the harsh sentence to Moturi after convicting him for the offence of conspiracy to defraud and deceiving NSSF.

Moturi’s co-accused; three stockbrokers will pay a total fine of Sh2.7 billion for the offence of conspiracy to defraud NSSF.

The court ordered Discount Security limited to compensate NSSF Sh4.8 billion.

Alongside the jail term and fine, Mugambi has issued and order restricting the four from being elected or appointed for public office for the next 10 years.

They have been given 14 days to appeal.

 

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